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Have you ever ordered something online and it never arrived? Despite tracking numbers and text confirmations, your online order is never fully considered “delivered” until it’s in your hands. Buying something online has turned into a waiting game to see when, or if, it’s going to arrive. This has happened to me more than once, and it’s more than likely it’s happened to you as well. The scenario unfolds like this: you go online to order something that you know you can’t find in the local market, you order a large quantity of it, then sit back and wait a couple of days for it to arrive. The day it’s supposed to arrive you check your tracking information and you see that it’s out for delivery. You wait all day and still it doesn’t arrive. You think to yourself it’s OK, because it might not arrive until 8pm. At this point now, you make sure your front porch light is on because it gets dark early this time of year. But the package never shows up. The next day you check your order status and you see it’s been delayed. Now you have to wait two more days for it to show up but it still never does. At this point all you want is a refund, and you do get it, but you have to wait five to seven business days for that to happen. When it’s all said and done, you waited over a week for something to show up that never did. You feel anger, disappointment and resentment. Ultimately, you vow to never buy from that company again.
Now imagine if you’re that company that failed to deliver and you multiply that experience with everyone who never received their package. How long do you think your company is going to stay in business? Not very long, not long indeed.
According to Retail Dive, buyer frustrations are caused by everything from shipping, to returns, to lost products and miscalculated duties and taxes. There is good news for U.S. retailers though, only 36% of domestic online shoppers experienced problems during the last holiday season. While that number might sound high, compare that to the Asia Pacific region where frustrations were closer to 65% for online shoppers. Even with these known issues, many U.S. retailers are looking to expand their cross-border shipping. It is estimated that 93% of all retailers will support cross-border shopping by the end of 2018. This would represent a 50% increase in cross-border retailers in just one year.
If almost all U.S. companies do open sales to anywhere in the world, then they must be prepared for shipping all over the world, and they have to be prepared to accept returns from any location as well. It has become an established fact that many more items are returned when purchased online than in stores. As more retailers rely on internet sales to keep afloat, they will need a solid liquidation plan to recover lost revenue. That’s where a company like B-Stock comes into play. We provide online auction marketplaces for retailers with excess overstock, whether due to returns or over ordering, we can help you recover lost revenue for returned items, no matter the reason. If this sounds interesting to you, we’d love to hear from you. Send us an email today and we’ll start a conversation on how we can improve your recovery rates.Email Us